JPMorgan China Hiring Probe Spreads to Five More Banks, NYT Says
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Goldman Sachs Group Inc. and Deutsche Bank AG are among five Wall Street firms in addition to JPMorgan Chase & Co. whose hiring practices in China are being probed by U.S. regulators, the New York Times reported.
Citigroup Inc., Morgan Stanley and Zurich-based Credit Suisse Group AG also are facing Securities and Exchange Commission investigations, which are at an early stage, the newspaper said yesterday, citing interviews with people briefed on the matter. JPMorgan recently gave authorities spreadsheets and e-mails detailing the firm’s Sons and Daughters hiring program, according to the Times.